moving abroad at some unknown time
Posted: April 12th, 2021, 9:35 am
I've been asked to look at setting up an ISA or other investment vehicle for my daughter. One fly in ointment is that, although she is a UK resident with a house here, there is an idea that she and her family may move back to NZ where they used to live. It may never happen - with kids in school etc and husband working in Dubai - it is only a glimmer of an idea, but more than a zero possibility.
At present, I'm thinking of advising her to open an ISA and cross the emigration bridge later if it ever happens.
I haven't a clue what would happen to any capital accumulated in a UK ISA if they should emigrate.
Has anyone else researched this event? One wonders whether people in this situation are able to leave the funds in the UK ISA, or whether people just withdrawn the cash and start again wherever they move to.
Any broad brush information or personal experiences would be welcome.
Arb.
At present, I'm thinking of advising her to open an ISA and cross the emigration bridge later if it ever happens.
I haven't a clue what would happen to any capital accumulated in a UK ISA if they should emigrate.
Has anyone else researched this event? One wonders whether people in this situation are able to leave the funds in the UK ISA, or whether people just withdrawn the cash and start again wherever they move to.
Any broad brush information or personal experiences would be welcome.
Arb.